How To Trade Intraday For Profit
Buying at the right price and then selling at the right time is the way to make money day trading in the stock market. Strange as it may sound money can be made intraday on a stock that loses money day to day, and the reverse is also true. Money can be lost intraday on a stock that makes money day to day.
Intraday Profitable Case Study - Fortress Biotech, Inc. (FBIO)
Proof for the statement above is seen in the 10-20-2020 trading chart for Fortress Biotech, Inc. (FBIO). A long stock position taken by buying FBIO at 9:34 a.m. at $2.58 could make a profit if sold intraday at 10:06 a.m. at $2.65. That trade would yield a gain of 2.7% in the span of only 32 minutes. There was over 69,000 shares of FBIO traded in the 32 minute timeframe mentioned above. Those 32 minutes was not the only intraday profitable timeframe for a position taken at 9:34 am, at 1:17 pm the price hit $2.65 again so there was a second chance intraday.
Further Money Making Intraday Opportunities
If profit was taken on the FBIO 9:34 am position even more money was available to be made by buying again at 10:44 am at $2.51. Another 4% gain could be made selling FBIO at 11:09 am at $2.63 which is a time span of only 25 minutes.
So by identifying and trading one stock intraday a greater profit can be made in minutes than a bank will pay on a savings deposited for a year. So the answer to the question "Can I really make money day trading" is a definite YES!
Note: The FBIO 9:34 am entry entry point was identified on the MostExcellentInvestor.com 9:30 am - 10 am watchlist in the subscriber area.